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Personal banking

In this section, you will find useful information on how to choose the right kinds of banking services and how to protect yourself when using internet banking. You will also get an overview of the banking regulatory environment that contributes to Hong Kong's status as an international financial centre.

Hong Kong boasts one of the highest densities of banking outlets in the world. Given this, it might seem that most people in Hong Kong are no strangers to banking services. However, when there are too many choices, customers may find it harder than ever to select the most appropriate products and services to meet their financial needs and goals, whilst protecting their rights and property. For example, there are different types of bank accounts ranging from the most basic savings accounts to more complex investment accounts, and banks offer a range of services and charge different fees.

Progress in financial technology means that customers can access banking services with a few taps on their smart devices. However, customers need to be aware of the common risks associated with online banking in order to protect themselves.

To ensure that our banking system operates smoothly, we operate within an established regulatory framework overseen by the Hong Kong Monetary Authority (HKMA). This body is responsible for the licensing of deposit-taking institutions as well as supervising the banking activities.

Our system in Hong Kong also provides protection to the assets that you have banked. The Deposit Protection Scheme, set up in 2006, protects depositors by paying them compensation in the event of the failure of a bank, which is a member of the Scheme.